Ghana Reserves in Months of Imports
Total reserves in months of imports FI.RES.TOTL.MO
Ghana's reserves in months of imports was 1.0 in 2025, ranked 139th globally. This represents a 29.9% decrease from 2024. Data from World Bank, covering 1975–2025.
Overview
Ghana's reserves in months of imports stood at 1.0 in 2025, a decline of +0.4 from 2023. Based on recent trends, this figure is projected to reach 1.0 by 2025. Ghana ranked 139th globally.
Ghana’s international reserves cover just 1.02 months of imports in 2025, placing the country at rank 139 globally and representing the lowest level recorded over the 50‑year series, which began at 1.91 months in 1975. The dramatic decline from the all‑time peak of 6.96 months in 1985 reflects a prolonged erosion of buffer stocks amid recurring current‑account deficits and limited export diversification. By contrast, peer economies such as Armenia (1.03 months) and Greece (0.97 months) hover around the same narrow margin, underscoring a broader vulnerability among small and middle‑income states that rely heavily on commodity exports and face volatile capital flows. The trough reached in 2025 signals heightened exposure to external shocks, as a reserve cushion of only one month offers minimal protection against supply‑chain disruptions or sudden stops in financing. Strengthening export performance, attracting stable foreign direct investment and building fiscal buffers could expand the reserve cover, potentially reversing the downward trajectory in the coming years.
Data & projection
| Year | Reserves in Months of Imports | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 0.6 | - | - |
| 2025* trend | 1.0 | - | - |
| 2025 | 1.0 | −0.4 | #139 |
| 2023 | 1.4 | −0.5 | #130 |
| 2022 | 2.0 | −2.0 | #125 |
| 2021 | 3.9 | +0.6 | #107 |
| 2020 | 3.3 | +0.4 | #120 |
| 2019 | 2.9 | +0.2 | #115 |
| 2018 | 2.7 | −0.6 | #118 |
| 2017 | 3.3 | +0.1 | #104 |
| 2016 | 3.2 | +0.1 | #109 |
| 2015 | 3.1 | −0.1 | #107 |
| 2014 | 3.2 | +0.4 | #103 |
| 2013 | 2.8 | −0.1 | #117 |
| 2012 | 2.9 | −0.5 | #114 |
| 2011 | 3.4 | −0.8 | #94 |
| 2010 | 4.3 | +0.5 | #88 |
Detected Pattern
Analysis
Ghana matched the Currency Crisis Pattern pattern in 2023. Historically, 27% of countries showing this pattern (35 out of 128) saw reserves in months of imports improve within 24 months. View full analysis →
Frequently Asked Questions
Ghana's reserves in months of imports was 1.0 in 2025. Ranked 139th globally. This represents a 29.9% decrease from the previous year.
Ghana's reserves in months of imports peaked at 7.0 in 1985.
The lowest reserves in months of imports in Ghana was 1.0 in 2025.
Ghana ranks 139th globally in reserves in months of imports as of 2025.
The World Bank indicator code is FI.RES.TOTL.MO. Data sourced from World Bank.
Ghana's reserves in months of imports is projected to reach 1.0 by 2025 based on trend extrapolation.
The reserves in months of imports of Ghana in 2025 was 1.0. This ranks 139th in the world.
Cite this page
@misc{historysaid_ghana_reserves-months-imports,
title = {Ghana Reserves in Months of Imports},
url = {https://historysaid.com/ghana/reserves-months-imports/},
publisher = {HistorySaid},
year = {2026}
}